Shares of Boeing Co (BA) continue to free fall as the 737 Max issues persist and now the coronavirus is killing the demand for air travel. This is the worst-case scenario for Boeing as airlines will likely not take delivery of 737 Max Airplanes even when they are cleared to fly again. Based on technical analysis, cycle work and time counts, below I reveal the Boeing price target.
The chart clearly shows Boeing oversold and due for a small bounce. However, the final Boeing price target is not until $150.00. This is the technical cycle target, time count target, and technical chart analysis target. It will likely reach this price target during the 2020 year.
(Click on image to enlarge)
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